Short Sale...is it right for you?

Short sales have become more common as lenders have come to realize it can make better economic sense to agree to accept less than the full payoff amount due.  It's a business decision that considers a number of things including 1) the current market value of the property, 2) time delays and 3) legal costs involved to process a foreclosure.

You may be a good candidate for a short sale if 1) you owe more than the home is worth and 2) if you are financially distressed and have no other way of repaying the outstanding balance due.  Be advised that if you have other assets or income sources, it is less likely that the debt will be forgiven.  Consult you tax advisor and/or attorney for possible tax and other consequences.

Short Sale Processing Requirements

In order to process a Short Sale with your lender(s), we will need the following documents from you:

1. 2 years federal tax returns
2. 2 months bank statements
3. 2 recent paystubs
4. Personal financial statement
5. Hardship letter of explanation
6. Executed contract of sale (provided by Buyer)
7. Estimated closing statement (provided by Escrow)
8. Signed Letter of Authorization (provided by RE/MAX Seagaze Realty & Seagaze Property Management)

E-mail us with your questions or give us a call - we can help you!

(760) 435-2200